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There's a law of economics [1] that describes how bad products drive out good ones if they look the same: [1] https://en.wikipedia.org/wiki/Gresham%27s_law htt
by RachelF 4y ago
There's a law of economics [1] that describes how bad products drive out good ones if they look the same:
[1] https://en.wikipedia.org/wiki/Gresham%27s_law https://en.wikipedia.org/wiki/Gresham%27s_law
- wizofaus 4y agoGresham's law is about (physical) currencies though - while it could arguably be somewhat extended to consumer products, the latter can typically be distinguished readily on more than just their superficial appearance. The fact that it's hard to accurately do so at point of purchase for most consumers is definitely part of the problem though.
- oigursh 4y agoBelieve the Market for Lemons may apply: [1] https://en.wikipedia.org/wiki/The_Market_for_Lemons https://en.wikipedia.org/wiki/The_Market_for_Lemons